Abby Normal

It's also on the input tab where it's a lot friendlier interface, IMO.

$300 single, $600 joint.

It defaults to short-term on the K1 input screens. You have to enter the long-term portion. Edit: I see they've changed it a bit this year.

I was hoping ATX had fixed the letters. In 2013 the letters were the biggest problem area. All was well in 2014 until one day last week I noticed the wording of my letters had returned to the default wording and some of my formatting had disappeared. I guess a lot of users use the letters as they are but I find them horrendously wordy and have made substantial changes to them. I've copied some of the letters into rtf files so I can easily return them to the way I want but the client letters have so many possible configurations that I can't do that. I guess i could do different portions but I haven't taken the time to do that yet.

I'd be more concerned with 1% dividends and 5% (1% in 2013) gains than I would be with churning. S&P 500 was up about 10% last year & 25% in 2013.

These accounts are usually managed accounts for a flat % quarterly fee. There is no per transaction fee, but they also rarely seem to make a lot of money. Sometimes the management fee exceeds the gains.

Treat as gift to mom and left mom deduct.

Both. You deduct it as wages instead of health insurance on the 1120S. Then the shareholder deducts it as an adjustment on 1040 Self-employed health insurance.

We're back to the old rules on S corp shareholders and health insurance thru 2015, with the hopes that Congress will get their act together and make it permanent. http://www.calt.iastate.edu/article/irs-notice-2015-17-provides-some-limited-aca-penalty-relief-small-employers

No, you get to use the full mileage rate even if the cents per mile depreciation fully depreciates a vehicle.

Here's an IRS page on Direct Selling businesses. I didn't read it. http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Retail-Industry-ATG-Chapter-3-Examination-Techniques-for-Specific-Industries-Direct-Sellers

It takes a LOT more than just a profit motive: In order to make this determination, taxpayers should consider the following factors: Does the time and effort put into the activity indicate an intention to make a profit? Does the taxpayer depend on income from the activity? If there are losses, are they due to circumstances beyond the taxpayer’s control or did they occur in the start-up phase of the business? Has the taxpayer changed methods of operation to improve profitability? Does the taxpayer or his/her advisors have the knowledge needed to carry on the activity as a successful business? Has the taxpayer made a profit in similar activities in the past? Does the activity make a profit in some years? Can the taxpayer expect to make a profit in the future from the appreciation of assets used in the activity?

The P&L gives me a net income to prove to. Usually on Sch C's we have to run a tape reconciling net income to the Sch C due to meals, mileage, etc.

It backs up Companies, Payers and Preparers automatically, but you have to do a manual backup to backup Setup Data. From ATX: "Setup Data" is a consolidated group of data that includes the following types of information that you use regularly in ATX: Preferences - all the preferences you've selected for your system Security Manager information that you've set up Print Packet settings Custom Client Letters Customized Master Forms EFIN Enrollment Data Unpostable Funds records FAM settings PRS purchases

It only backs up the files that have changed. It automatically backs up each client as you close it, unless you've turned that off in preferences. You can watch it happen at: C:ProgramDataCCH Small Firm ServicesATX 2014 ServerATX 2014 Backup Warning: ProgramData is a hidden folder. You have to change view Folder Options to see show hidden folders.

For all business clients, we print: BS for prior year end to check beginning balances. P&L BS General Ledger to scan for "issues" and equity transactions I've never printed a trial balance from QuickBooks. Not sure what I would need it for because BS & P&L has exact same info.

Not if they have inventory... or need a personal property return that includes a balance sheet.

I can stand for over an hour before my feet start aching. If I lost some weight, I could stand longer. I can usually stand 3-4 hours out of a 12 hour day. Every little bit helps! My core and legs are firmer for it.

Make it a hobby and amortized the startup costs. When you know he'll never make a profit, don't deduct the losses.

This is the next step, but damn it's expensive! http://www.beyondtheofficedoor.com/BTOD-VD-TMBU.php

Bought my desk at Beyond the Office Door. It was just under a grand. http://www.beyondtheofficedoor.com/Electric-Sit-to-Stand-Desk.php Just bought a new floor pad from Varidesk.com so I can stand longer. http://www.varidesk.com/ Versa Tables also makes sit to stand desks. http://www.versatables.com/promo/sit-to-stand.php

Just noticed last night that ATX is calculating the 22 cents per mile depreciation and recording it for the vehicle when you use the standard mileage. Nice!

Boo! I was going to say how pleased I was they were making solid donations. I see people with much higher AGI not making any donations, the cheapskates! Also, buying deductions is a losers games unless it's retirement contributions. He should def max out his 401K.

Life is too short for PITA clients. I would not quote a price. I would tell them they are not a good fit for my business and they should find another preparer.

Saw this on official forums: a manual refresh of the assets. Go to fixed assets and put the cursor in any cost or basis field. Hit Ctrl / Alt / Shift / 2 (2 not F2). A little circle will appear for a few seconds. This will clear off the old asset information from the forms.